The Group’s principal strategic objective is to build up a land bank which would be attractive to a major trade buyer. This will take a few years, during which time it will continue to sell certain sites where it can obtain favourable offers.

The Group will continue to invest in sites varying in size and value, concentrating its activities on areas of high demand (for example, where there are good transport links or attractive residential environments) and seeking planning consents that are appropriate for the location and desirable to house builders.

The objective is to resolve all planning and technical issues so that sites are ready for construction to commence.

The Group intends to make purchases of strategic land (that is land which may in future be suitable for development) when appropriate opportunities arise.

The Group will also continue its strategy of investing in quoted and unquoted companies, particularly those where the share price does not reflect the value of the underlying property assets or their development potential. It also invests in companies where the Directors believe they can add value or benefit from a strategic relationship. The Company currently has an interest in listed securities and a house building company, Howarth Homes plc.

The Company was incorporated in England and Wales under registration number 5482990 and its shares are traded on the Alternative Investment Market (AiM).

Site last update: 30 July 2008